Deutsche Bank has expanded its partnership with the German football club Eintracht Frankfurt in a multi-year agreement.
The extended partnership will not only involve sponsorships and naming rights but also develop new business models and products for transcended stadium experience.
The contract is for a duration of seven years, with an option to extend.
Under the agreement terms, all events, concerts and Eintracht Frankfurt home games will take place in the Deutsche Bank Park.
The annual sponsorship costs have not been divulged by both the partners.
In a press release, the bank said: “In view of the current coronavirus crisis, the bank’s top priority right now is the health and safety of its employees, clients and business partners.
“Deutsche Bank and Eintracht Frankfurt will jointly disclose the details of their partnership and the concept for the Deutsche Bank Park in due course.”
Eintracht, which was founded in 1899, is currently playing in the top tier of the German football league system Bundesliga.
It has won one German championship, five DFB-Pokals, and one UEFA Cup.
Since 1925, the club’s stadium has been the Waldstadion, which was renamed Commerzbank-Arena in 2005.
The deal comes a year after the merger talks with Commerzbank had collapsed.
Sports sponsorship deals:
Earlier last month, UK digital challenger Starling was named as the official banking partner of Team GB for the upcoming Tokyo Olympics.
The partnership came amidst the news that Japan may postpone the Olympics games as coronavirus cases surge.
The Tokyo Olympics is scheduled to begin on 23 July 2021 and end on 8 August 2021.
In February, British banking major HSBC decided to terminate multi-million-pound sponsorship deal with British Cycling by the end of this year.
In the same month, CIMB signed a sponsorship deal with Malaysian Football League as Title Sponsor of the Liga Super Malaysia.